Valley Lane Industries is suing the panties off Victoria's Secret claiming the lingerie company has cost them millions!

In the suit, the family owned company claims Victoria's Secret sought out their Chinese shoe manufacturer who produced their shoes for over 25 years and demanded they sign an exclusive deal with them.

Valley Lane's lawyer said Vicky has "done everything they could to put them out of business. They found out who the manufacturers were and they went to them and said, 'You have to sever your relationship with Valley Lane.'"

The lawyer added that the company is "barely surviving" as revenues have dropped to $20 million and are seeking $48 million from the panty maker.